X-Spot granted trademark injunction in opposition to Huobi World in Hong Kong

X-Spot World Restricted, an organization owned by Huobi World trade (now HTX) co-founder Leon Li, has received an injunction in opposition to Huobi World for the latter to stop its use of the Chinese language-equivalent “Huobi” trademark in Hong Kong.

Based on a latest decision with the Hong Kong Excessive Courtroom, the HTX trade shall be barred from utilizing the trademark identify Huobi (火幣) and the Chinese language enterprise identify “火必,” which is “confusingly related” to the English trademark in Hong Kong, pending a ultimate trial on the matter. Presiding choose Mimmie Chan J wrote: 

“At this stage, I’m unable to see any debatable defence to the Plaintiff’s declare of trademark infringement, and as Counsel for the Plaintiff submitted, there is no such thing as a want to contemplate the adequacy of damages or the stability of comfort for the grant of the Injunction sought.”

Courtroom paperwork reveal that the Huobi trademark was registered in 2019 in Hong Kong. In September 2022, Huobi World was bought by co-founders Leon Li and Du Jun to About Capital administration, an entity linked to Chinese language blockchain character Justin Solar. 

Nonetheless, based on court docket filings, the Huobi trademark was assigned, or rights totally transferred, to Leon’s X-Spot World Restricted, previous to the September 2022 acquisition, which is “not disputed” by both occasion. In July 2023, X-Spot World sued Huobi World in Hong Kong for trademark infringement. On the time, Huobi World stated that “it holds trademark rights in lots of authorized jurisdictions all over the world and is due to this fact entitled to make use of them freely.” 

Cointelegraph previously reported that in Might 2023, Justin Solar published a series of allegations in opposition to Wei Li, Leon Li’s brother. Within the tweet, Solar accused Wei Li of receiving hundreds of thousands of Huobi Tokens by “irregular means” at zero price and of “constantly promoting off these HT tokens and cashing out.” To which Lin Li replied: “I hope Huobi can present proof. Whether it is confirmed that it’s zero-cost HT was obtained by unlawful means, I’ll personally pay 10 occasions the HT [amount] to Huobi firm.”

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